Word: borrower
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Dates: during 1970-1979
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...enlarged. Last week Federal Reserve Chairman Arthur Burns broke his silence to tell the House Banking Committee he thinks that even the present Carter stimulus is not needed. Said he: "As far as I can judge, the economy is improving on its own." Since the U.S. Treasury has to borrow the money to pay the rebates, Burns contended, the plan is not an "efficient way to stimulate the economy." Increased borrowing would put pressure on the Federal Reserve to increase the money supply and thus encourage inflation...
...more pressure on the sinking pound. Oil imports in the first nine months of 1976 added a net $5.5 billion to Italy's trade deficits, 45% more than a year earlier. To pay for another oil hike, Italy would have to cut other imports sharply and borrow additional cash from its trading partners and the International Monetary Fund. In Japan, which imports almost every drop of its oil, government and private economists figure that national production will rise 7% next year-if there is no OPEC price increase. But if OPEC raises oil prices by 10%, Japanese output will...
Stewart tried to get the naked billionaire dressed, but couldn't find any of his drawstring shorts. Hughes kept saying that he was all right, he'd borrow Stewart's underwear...
...real output, v. 3.8% in this year's third quarter, and a reduction of 1½ points in the unemployment rate, currently 7.9%. More important, Burns helped to engineer a further drop in interest rates that should please Populist Carter-and make it easier for businessmen to borrow for expansion...
Hough moves with an essayist's grace from lemonade to his dislike of meetings, from Virginia Woolf to George Borrow. He is never sentimental, but he does not give up on old affections either. He is master of the splendidly abrupt transition: "In December 1971 I threw out all my city shirts, hoarded since 1926." Or: "Today Graham ate a whole banana." Or, with drastic irony: "Someone is sure to mention sex." Perhaps predictably Hough has it in for Sigmund Freud because he feels that the good doctor unwittingly damaged the possibilities of romance and encouraged the adoption...